Canada’s main stock index fell lower on Thursday as the ongoing US–Israel military campaign against Iran entered its 13th day, weighing on investor sentiment. Heightened geopolitical tensions pushed crude prices higher, adding to concerns about inflation.
On Wednesday evening, US Energy Secretary Chris Wright announced that the US will release 172 million barrels of oil from the Strategic Petroleum Reserve, with deliveries expected over roughly 120 days. The decision followed President Donald Trump’s earlier comments indicating he planned to tap the reserve. Despite the move, markets remained strained as oil prices continued to rise. West Texas Intermediate futures climbed about 4 per cent to around US$91 per barrel, while Brent crude jumped 5 per cent to nearly US$97 and briefly touched US$100. Meanwhile, US forces on Tuesday destroyed 16 Iranian mine‑laying vessels near the Strait of Hormuz, where tanker traffic continues to face delays under the threat of Iranian attacks.
| TSX | 32,840.60 | -279.23 |  |
| TSXV | 1,047.05 | -29.11 | |
| CSE | 174.68 | -8.70 | |
| DJIA | 46,677.85 | -739.42 | |
| NASDAQ | 22,311.98 | -404.16 | |
| S&P 500 | 6,672.62 | -103.18 | |
The Canadian dollar traded for 73.35 cents US compared to 73.59 cents US on Wednesday.
US crude futures traded US$9.15 higher at US$96.40 a barrel, and the Brent contract rose US$9.39 to US$101.40 a barrel.
The price of gold was down US$106.57 to US$5,067.53.
In world markets, the Nikkei was down 572.41 points to ¥54,452.96, the Hang Seng was down 182.00 points to HK$25,716.76, the FTSE was down 51.09 points to ₤10,302.68, and the DAX was down 32.97 points to €23,607.06.
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